According to Accounting today, General Electric Co. was fined $200 million for allegedly misleading investors about the finances of its gas-power unit, as well as a run-off insurance business.
- According to the article, what did GE fail to explain to its shareholders?
- What is GE required to report for the first year to the SEC as part of its settlement?
- Where is GE based?
Robinson, M and R. Beene. 2020. SEC’s GE accounting probe ends in $200M fine. Accounting Today, Dec. 9 (Retrievable online at https://accountingtoday.com/articles/secs-ge-accounting-probe-ends-in-200m-fine?)